Would Increased Taxes on Alcohol Curb Binge Drinking?

There are a number of negative externalities caused by excessive drinking. There are 1.2 million violent incidents each year attributable to alcohol misuse, alcohol related illnesses cost the NHS £1.7 billion per year, and £6.4 billion is lost to business in terms of lost productivity. An article in today’s Telegraph argues that a small increase in the tax on alcohol could save thousands of lives a year.

Click on this link to read the article: Taxes on Alcohol Should be Increasd to Curb Excessive Drinking.

But, is increasing the price of alcohol the best way to curb binge drinking, and internalise the negative externalities? Or should there, as is the case with cigarettes, be labels on the drinks warning of the dangers? Should alcohol advertising be banned? Should bars be prevented from offering ‘happy hour’ promotions? Has extended bar opening hours had any impact? Should more be taught in school on the dangers of excessive drinking?

The Home Secretary, Jacqui Smith is considering giving police power to confiscate alcohol from anyone under the age of 18 carrying it in public:

Should the Police Have Powers to Confiscate Alcohol?